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On June 26, the CFPB, pursuant to the Dodd-Frank Act, issued a final rule that establishes supervisory procedures for nonbanks whose activities it has reasonable cause to determine pose risks to consumers. CFPB Release. CFPB Final Rule.
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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
© Orrick - Structured Finance Group
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